India, Aug. 14 -- The Japanese yen strengthened against other major currencies in the Asian session on Thursday, as the Bank of Japan (BoJ) raised its inflation outlook in July and kept the door open for an imminent interest rate hike by the end of current year.
Optimism over the outlook for interest rates, with the US Fed widely expected to lower rates by a least a quarter point next month, also led to the surge of safe-haven JPY.
U.S. Treasury Secretary Scott Bessent wants the Fed to keep the door open to a larger, 50 basis point rate cut next month following recent weak US jobs data.
CME Group's FedWatch Tool is currently indicating a 93.8 percent chance the Fed will cut rates by 25 basis points in September.
US President Donald Trum...